Report ocean published a new report on the Respiratory Inhalers market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
The global respiratory inhalers market is expected to reach USD 33,572.9 Million by 2023 at a CAGR of 6.1% during the forecast period.
The Centers for Medicare and Medicaid Services data estimates that the U.S. national healthcare expenditure surpassed US$ 4.1 trillion in 2020 and is forecast to reach US$ 6.2 trillion by 2028. According to the Commonwealth Fund, the U.S. expended nearly 17% of gross domestic product (GDP) on healthcare in 2018. Switzerland was the second-highest-ranking country, expending 12.2%. In addition, New Zealand and Australia devote only 9.3%.
According to the U.S. Bureau of Labor Statistics, employment in healthcare fields is forecast to grow 16% from 2020 to 2030, much quicker than the standard for all occupations, counting about 2.6 million new jobs. This estimated growth is mainly due to an elder population, showing to greater demand for healthcare services. The median annual wage for healthcare practitioners and technical fields (such as registered nurses, physicians and surgeons, and dental hygienists) was US$ 75,040 in May 2021, which was greater than the median annual wage for all occupations in the economy of US$ 45,760.
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Respiratory inhalers are the devices which are used to control the respiratory conditions by directly inhaling the drug into the respiratory tract. Respiratory inhalers are used to assist a patient encountering breathing problems resulting from respiratory disorders such as fibrosis, asthma, COPD and ARDS and others.
Globally, on the basis of type, manually operated inhalers account for the largest market share of 89.9%, of the market in 2016. The massive share is majorly attributed to the widespread availability and use of the conventional inhaler devices and the lack of awareness and the lesser availability of the digital and smart inhaler devices in all parts of the world. However, the market is changing and Digital inhalers & smart inhaler segment will show a rapid growth globally after 2018.
Globally, On the basis of application, COPD will be the fastest growing application segment growing at a CAGR of 6.5% from 2017 to 2023, as the number of COPD patients is on the rise and patients need a concrete treatment method to counter the disease. Moreover, many awareness programs and campaigns have been started in the last few years in the developing regions such as Asia-Pacific and Middle East & Africa.
Dry Powder Inhalers segment accounted for the largest market share of North America respiratory inhalers market, by product, registering revenue of USD 3,969.6 million in 2016 and expected to reach USD 6,421.0 million by 2023. In North America, metered dose inhalers is the fastest growing segment, and is expected to grow at the CAGR of 6.7% during forecasted period. Dry Powder Inhaler segment being available widespread dominated the market in most of the countries such as US, Germany, France, UK, India, China, Australia, Middle East, and Republic of Korea among others. Apart from these two,
North America commands largest market share of 35.1%, minting USD 7,237.8 million in 2016. European market is second largest after North America with 33.3% market share. Globally, Asia-Pacific region is one of the fastest growing markets for Respiratory Inhalers. It was valued at USD 4,628.5 million in 2016, and is expected to reach USD 7,841.3 million by 2023, at the rate of 6.7% during the forecast period.
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The leading market players in the global respiratory inhalers market include Adherium Limited, AstraZeneca PLC, Boehringer Ingelheim GmbH, Chiesi Farmaceutici S.p.A., GlaxoSmithKline PLC, Propeller Health, and Teva Pharmaceutical Industries Ltd.
Study objectives of Respiratory Inhalers market
? To provide insights about factors influencing and affecting the market growth
? To provide historical and forecast revenues of the market segments and sub-segments with respect to regional and country-level markets
? To provide historical and forecast revenue of the market segments based on types, products, applications, end users, and its sub-segments.
? To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
> Medical devices manufacturers
> Medical devices distributors
> Pharmaceutical companies
> Hospitals & Clinics
> Potential investors
> Key executive (CEO and COO) and strategy growth manager
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> Metered Dose Inhalers will be the fastest growing product segment growing at a CAGR of 6.5% from 2017 to 2023
> COPD will be the fastest growing Application segment growing at a CAGR of 6.5% from 2017 to 2023
> North America held the largest market share of 35.1% in 2016, while Asia-Pacific is expected to register fastest growth of 6.7% CAGR during the forecast period.
> Asia-Pacific market is expected to reach by USD 7,841.3 million by 2023.
The reports also cover country level analysis:
> North America
> Rest Of Western Europe
> Eastern Europe
> Republic of Korea
> Rest of Asia-Pacific
> Middle East & Africa
> Middle East
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Table of Content:
- Market Definition and Overview
- Research Method and Logic
- Market Competition Analysis
- Product and Service Analysis
- Strategies for Company to Deal with the Impact of COVID-19
- Market Segment by Type, Historical Data and Market Forecasts
- Market Segment by Application, Historical Data and Market Forecasts
- Market by by Region, Historical Data and Market Forecasts
- Market Dynamic Analysis and Development Suggestions
The following customization options are available for this report:
> Trends for other verticals including retail’ travel’ and hospitality
> Country-specific trends and market analysis
> Rest of the World (RoW) Region-specific market analysis
> Additional company profiles
Apart from the existing market analysis’ Reportocean can also offer a wide array of custom-tailored studies as per the company’s specific needs.
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